Portland is a well-established suburb in Victoria within the Glenelg local government area (postcode 3305). It is home to about 10,016 residents, with an older-leaning population and a median age of 47. Households earn a median income of $60K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.0% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, technicians & trades. Employment in the area leans toward healthcare and manufacturing. The top ancestries reported are English, Australian, Scottish.
Median house prices in Portland stand at $440,000, having risen solidly by 6% over the last twelve months. Units have a median price of $383,000 (+27.5% YoY). The current median weekly rent is $420. This gives a gross rental yield of approximately 5.0%. The median monthly mortgage repayment is $1,083.
Portland is served by 8 schools, including 5 primary, 2 secondary, 1 special. The average ICSEA score is 962, which is around the national average of 1,000. Public transport access includes 1 rail station, 1 tram stop, 58 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Glenelg LGA is higher than average at 12,431 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 5.0% (moderate yield). Property prices sit below the state median ($440K/$875K), which can point to relative value. The price-to-income ratio of 7.4x is considered moderate. House prices have moved +6.0% year-on-year. Population growth of +0.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.